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Real Estate & Construction

NautaDutilh assists Cofinimmo on largest ECM transaction to date in 2015 on Euronext Brussels

22 May 2015

NautaDutilh has assisted its long time client Cofinimmo (REIT - Euronext Brussels) on its 285mio EUR rights issue which closed in May 2015. BNP Paribas Fortis, KBC Securities and ING Belgium acted as joint bookrunners. This is the largest ECM transaction to date in 2015 on Euronext Brussels.

The team of NautaDutilh was led by Nicolas de Crombrugghe and was composed of Dorothée Vanderhofstadt, Harry Eliaerts, Lorraine Vercauteren and Pierre De Pauw.

Heuking Kühn Lüer Wojtek accompanies first bond on digital platform mezzany.com

21 May 2015

A team led by Dr. Thorsten Kuthe, partner of the commercial law fim of Heuking Kühn Lüer Wojtek, advised AK Immobilien Projektentwicklungs GmbH (AK Immobilien) on issuing the first bond on the mezzany.com Internet platform. The advice also comprised drafting a prospectus for the public offering of 3,000 bearer bonds at a maximum nominal total of EUR 3 million to finance the real estate property bell foundry Neukölln.

Deacons advises on the first RQFII exchange-traded fund tracking the ChiNext Index

20 May 2015

Deacons recently assisted CSOP Asset Management in listing the CSOP SZSE ChiNext ETF; the first renminbi qualified foreign institutional investor (RQFII) exchange-traded fund that tracks the ChiNext Index.

The ChiNext Index is designed to represent the performance of the top 100 A-Share companies listed on the ChiNext board of the Shenzhen Stock Exchange.

The fund listed on the Hong Kong Stock Exchange on May 15th 2015.

Deacons’ partner Su Cheen Chuah advised on the matter.

Eversheds advises Aberdeen Asset Management on sale of Bedfont Lakes for £167 million

19 May 2015

Eversheds has advised Aberdeen Asset Management on the sale of Bedfont Lakes Office Park to M&G Real Estate. The purchase price was £167m, representing a net initial yield of 5.44 per cent.

The 374,661 sq ft office park is located less than one mile from Heathrow Airport and 15 miles west of central London. Current tenants include a range of both national and international companies such as BP International, Birds Eye Iglo, Targus Europe and Stratus Technologies Systems Ltd.

DLA Piper advises Oxford Properties on joint venture and refinancing of Nomura's headquarters

19 May 2015

DLA Piper has advised global real estate investor Oxford Properties (Oxford) on a 50:50 joint venture with Union Investment Real Estate GmbH (Union Investment) in respect of Oxford's Watermark Place, with Oxford  acting as asset manager to the joint venture.

Union Investment, a German open-ended fund manager, will take a 50% stake in the building.

DLA Piper also advised the joint venture on the refinancing of the asset, raising a new 10-year £270 million debt facility. 

IBM divests real property in Kista to Areim and Skanska

19 May 2015

IBM Sverige AB has agreed to divest its office in Kista, Sweden, to the real property holding and development companies Areim and Skanska. The divestment is pending Stockholm municipality’s approval of a land appointment agreement and adoption of a new zoning plan for the area. The property and land formerly housed IBM’s headquarters in Sweden and will be developed into a new residential district comprising approximately 2,000 apartments, including student housing.

DLA Piper advises Knightsbridge Student Housing Ltd. on sale of Westbourne Portfolio

18 May 2015

DLA Piper has advised Knightsbridge Student Housing Ltd (Knightsbridge) on the sale of 13 student accommodation properties across the UK totalling just fewer than 6,000 beds, to a Goldman Sachs and Greystar partnership.

Backed by Oaktree Capital Management, Knightsbridge is a student accommodation investor, developer and operator with the key aims of providing high quality, service-led student accommodation in specifically targeted locations across the UK and Europe.

KWM advises Sino-German Ecopark on the acquisition of a stake in listed entity German Brokers AG

15 May 2015

King & Wood Mallesons advises Sino-German Ecopark Handels- und Beratungs GmbH (Sino-German Ecopark), Munich, with respect to the acquisition of a stake in the German Brokers AG. The shares of German Brokers AG are admitted for trading on the General Standard of the Frankfurt Stock Exchange and are also traded over the counter (Freiverkehr) at the Berlin, Düsseldorf and Stuttgart stock exchanges.

Mayer Brown advises AEW Europe on London Acquisition

14 May 2015

Mayer Brown has advised AEW Europe, a leading European real estate investment manager, on the acquisition of 24-28 Martin Lane in London on behalf of its Europe Value Investors Fund (EVI) for approximately £24 million.

The 32,000 sq ft refurbished office building in the City of London was acquired off market from Trinova Real Estate, the property investment and asset management business, which sold it on behalf of a high net worth investor.

The office building is 100 percent let to tenants, who include Business Wire, WH Ireland and The Law Society.